husband filing chapter

What is the name of your state? new jersey
husband, separated 3 1/2 years, no legal separation agreement, is filing for chapter 7 in nj. how will this affect me?

[Ladynred]

If you had/have any accounts in both names and he has them discharged, they will come after YOU for the money.

[HomeGuru]

Also you wil be named as spouse in the BK petition along with a listing of your joint assets and liabilities, your income etc.
In addtion, your indivdual credit report may show your husbands BK.

So would you suggest I do the same thing, along with him, which will ruin my credit for 10 years, and be totally humiliating at best, or hang in there and pay.[COLOR=orangered]HIS bills[/COLOR] , many of them opened as joint accounts without my permission

[HomeGuru]

[quote]Originally posted by poodypatch
[b]So would you suggest I do the same thing, along with him, which will ruin my credit for 10 years, and be totally humiliating at best, or hang in there and pay.[COLOR=orangered]HIS bills[/COLOR] , many of them opened as joint accounts without my permission

**A: we have no information to advise you one way or another. even if we did have the info, we would not be the ones to advise you properly.

[Ladynred]

I'm going to stick my 2 cents in here.

Its true that BK on your credit report for 10 years will be ugly, however, if you can't pay the bills your stbx will leave you with on those joint accounts, then late pays, charge-offs and collections can poison your credit just as badly as BK. That poison can last a LOT longer than 10 years if judgments are issued or if you start paying CA's payments.. then they can report for 7 more years after your last payments, so the bad credit can, conceivably last a lot more than 10 years.

With BK, you can start to recover a LOT faster, you can buy a house in 2-3 years at decent rates, and credit cards will come again.

BK no longer carries the stigma that it once did. So many people are having to file in this rotten economy that its simply not a 'big deal' socially anymore. Not that it wouldn't still bother you, but it really doesn't bother anyone else anymore.. its become terribly commonplace.

The decision, of course, is yours to make, but if your STBX's bills will be more than you can handle, you may find its your best way out.